By Daniel Goldstein, CEO, Folience
Time is the enemy of all deals. Because of that, as an acquisition is being pursued, both sides are likely laser-focusing their time and energy on getting the deal to close.
After several years of progress on drastically improving their communications, ownership culture initiatives, and getting the direct involvement of frontline employees in this process, ESOP-owned Acuity Healthcare was hit with their biggest challenge yet.
There are many paths to becoming an employee-owned company, but one of the most common is also one of the least talked about: companies becoming employee-owned by being acquired by a company that already is employee-owned.
One of the trickiest issues for ESOP companies with strong cultures is how to determine if people from outside the company being considered for leadership positions will fit well into the company’s culture.